Aluminum Market Report September 2016

Content
Abstract 4
1 Company news 4
2 Chinese domestic market review 4
2.1 Primary aluminum prices move up sharply 5
2.2 Cost increase pushes up alumina prices 5
2.3 Alumina prices in Shanxi go up 5
2.4 Alumina prices in Shandong move up 6
2.5 Alumina supply remains tight in Henan 6
2.6 Alumina prices in southwest China follows up 6
2.7 Aluminum hydroxide prices move up 6
2.8 Chinese secondary aluminum alloy ingot prices up 7
2.9 Aluminum fluoride prices rebound 7
3 International market review 8
3.1 LME aluminum prices up at first, then down 8
3.2 Imported alumina prices rebound 8
3.3 Imported alumina prices in the port climb up 8
3.4 Chinese secondary aluminum alloy ingot export prices down at first, then up 9
3.5 Import Zorba aluminum scrap prices down 9
3.6 Malaysian bauxite in tight supply and price moved up 10
3.7 Demand for imported bauxite becomes various 10
3.8 Demand for imported bauxite diversifies 10
3.9 Australian bauxite prices edge up 11
3.10 Aluminum fluoride export prices steady 11
4 Output & Inventory analysis 11
4.1 Chinese primary aluminum output increases to 2.77 million tonnes in September 11
4.2 China’s alumina output slightly up by 0.4% MOM in Sep 12
4.3 China’s domestic alumina stocks down by 50% MOM in September 13
4.4 China’s imported alumina stocks down by 33% MOM in late September 13
4.5 China’s imported bauxite inventories down by 0.6% MOM in late September 14
4.6 Chinese aluminum fluoride output up by 3.9% MOM in September 15
4.7 Chinese aluminum fluoride inventories down by 20.4% MOM in late September 15
5 Imp & Exp analysis 16
5.1 Chinese aluminum alloy export volume up by 6.8% MOM in August 16
5.2 China’s alumina imports down by 41% MOM in August 18
5.3 Chinese aluminum scrap import volume up by 12.73% MOM in August 19
5.4 Chinese bauxite imports up by 22.7% MOM in August 21
5.5 Chinese aluminum fluoride export volume down by 45.2% YOY in August 22
6 Market outlook for October 24
6.1 Primary aluminum prices down 24
6.2 Alumina prices up 24
6.3 Chinese secondary aluminum alloy ingot prices up 24
6.4 Aluminum fluoride prices up 24
6.5 Bauxite prices up 24

Graph 1 Aluminum ingot price on Chinese market 5
Graph 2 Chinese alumina prices 5
Graph 3 Alumina prices in Shanxi 6
Graph 4 Alumina prices in Shandong 6
Graph 5 Alumina prices in Henan 6
Graph 6 Alumina prices in Guangxi 6
Graph 7 Aluminum hydroxide prices 7
Graph 8 Chinese secondary aluminum alloy ingot prices movement 7
Graph 9 Chinese aluminum fluoride prices 8
Graph 10 Aluminum settlement on LME 8
Graph 11 Aluminum warehouse on LME 8
Graph 12 Imported alumina prices CIF China 8
Graph 13 Imported alumina prices in the port 9
Graph 14 Chinese secondary aluminum alloy ingot export price movement 9
Graph 15 Chinese Zorba aluminum scrap import price movement 9
Graph 16 40% bauxite prices FOB Malaysia 10
Graph 17 43-44% Indian bauxite prices CIF China 10
Graph 18 Price for Indian bauxite 43-44% CIF China 11
Graph 19 Price for 52% Australian bauxite CIF China 11
Graph 20 Chinese aluminum fluoride export prices FOB China 11
Graph 21 Chinese primary aluminum output by month 12
graph 22 China’s output of alumina by month 13
graph 23 China’s monthly output of alumina by province 13
graph 24 Chinese aluminum smelters’ stocks by month 13
graph 25 China’s imported alumina stocks by month 14
Graph 26 Chinese imported bauxite inventories by month 14
Graph 27 Chinese consumption volume for imported bauxite 15
Graph 28 Chinese aluminum fluoride output by month 15
Graph 29 Operating rate of Chinese running aluminum fluoride plants by month 15
Graph 30 Chinese aluminum fluoride inventories by month 16
Graph 31 China's aluminum fluoride producers' days sales of inventory statistics by month 16
Graph 32 Chinese aluminum alloy export volume by month 16
Graph 33 Chinese aluminum alloy export volume by major country by month 17
Graph 34 China’s imports for alumina by month 18
Graph 35 China’s imports for alumina by month and exporter 19
Graph 36 Chinese aluminum scraps import volume by month 19
Graph 37 Chinese aluminum scrap import volume by major country by month 20
Graph 38 Chinese bauxite imports by month 21
Graph 39 Chinese bauxite imports from major origins 21
Graph 40 Chinese aluminum fluoride export by month 23
Graph 41 Chinese aluminum fluoride export by major destinations 23

Table 1 The table below demonstrates the output changes by company in September 12
Table 2 The table below shows the operating rate of aluminum smelters by province 12
Table 3 Chinese top ten secondary aluminum alloy exporters in August 2016 17
Table 4 Major Chinese aluminum alloy export companies in August 17
Table 5 China’s alumina imports by exporter in August 18
Table 6 Chinese major alumina importers in August 19
Table 7 Chinese top ten aluminum scrap importers in August 2016 20
Table 8 Chinese major aluminum scrap importers in August 20
Table 9 Chinese bauxite import by countries 21
Table 10 Chinese bauxite importers in August 22
Table 11 Chinese aluminum fluoride exporters in August 23
Table 12 Chinese aluminum fluoride exporters 23

.Asian Metal Copyright1 LME aluminum prices up at first, then down 8 3Asian Metal Copyright